November 14, 2019

Budget deficit might reach 4% unless measures are taken, Finance Minister Cîţu says

Newsroom, 14.11.2019, 14:00

FINANCE For the past 3 years, Romanias economy has been managed according to 2 budgets, one presented in Parliament and for which no PM or finance minister in the former Social Democratic governments has taken responsibility, and another one containing accurate data and used for financing party barons, the new Finance Minister Florin Cîţu told a press conference on Thursday. The added he would notify the competent authorities. According to the minister, the budget deficit for the first 10 months of the year is 2.84% of the GDP, above the estimate for the entire year, and unless measures are taken in the next one and a half months the figure will exceed 4%. Some 500 million euros in the public pension budget is unaccounted for, Cîţu added, and explained that this years budget should be adjusted downwards.

ORDER The Government of Romania passed an emergency order on the status of the British citizens living in Romania in the event of a no-deal Brexit. Romania was the only EU member state still to regulate the matter. The Prime Ministers chief of staff, Ionel Dancă, explained that the order was necessary and had been requested by the British side.

COMMISSIONER The Romanian MEP Adina Vălean, nominated for the transport commissioner post, is heard today in the European Parliaments specialist committees, along with the commissioners nominated by France and Hungary. On Tuesday she was given the green light by the Committee on Legal Affairs, which looked at possible conflicts of interest. Also on Tuesday, Vălean was heard by the joint European affairs committees of the Romanian Parliament, whose opinion is advisory. When the formal hearings are over, the president elect of the European Commission Ursula von der Leyen will present the full commission and its programme to the European Parliament on the 27th of November.

GROWTH Romanias GDP is up 4% in the first 9 months of this year, compared to the corresponding period of 2018, the National Statistics Institute announced. However, the economic growth rate slowed down in the 3rd quarter, to 3% as against 4.4% reported for the 2nd quarter. In its autumn economic forecast made public recently, the European Commission estimates a 4.1% economic growth rate for Romania in 2019, and expects the rate to drop to 3.6% in 2020 and 3.3% the following year.

TRAVEL 230 operators from 16 countries are attending until Sunday the largest Tourism Fair in Romania, organised in Bucharest. Taking part are representatives of travel agencies, tour operators, and associations and local authorities promoting their regions. Visitors can purchase holiday packages for this winter and for 2020, with discounts of up to 45%.

FOOTBALL Romanias Under 19 football team is playing today at home against Finland, in Group 8 of the 2021 UEFA European Under 19 Championship qualifiers. Denmark tops the group with 9 points, followed by Finland with 7 and Romania with 6 points. In the Euro 2020 qualifiers, Romanias senior team are facing Sweden at home on Friday. Group F is dominated by Spain with 20 points, who have already secured their qualification, followed by Sweden with 15 points and Romania with 14. To qualify, Romania need to defeat Sweden and draw against Spain away. The two best-placed sides in each group will qualify. The drawing of lots for Euro 2020 will take place in Bucharest on the 30th of November. The Romanian capital will also host four European Championship matches, three group matches and a quarterfinal.

HANDBALL Romanias mens handball champions, Dinamo Bucharest, are undefeated in the Champions League, after a draw against the Swedish side IFK Kristianstad, 29-29, in Group D. Dinamo, already qualified into the play-offs, ranks first in the group with 13 points, followed by GOG Gudme (Denmark), with 9 points, Orlen Wisla Plock (Poland) with 7, Kadetten Schaffhausen (Switzerland), with 6, IFK Kristianstad (Sweden) with 5 and Cehovskie Medvedi (Russia) with 4 points. Dinamo is next to take on Cehovskie Medvedi at home on November 20.

(translated by: Ana-Maria Popescu)